Tag Archives: investacorp complaint

John G. Chess – Former Investors Capital Corp. Broker- Discloses Customer Disputes – Columbus, OH

May 2017- Columbus, OH

According to publicly available records John G. Chess , (CRD#4812430) ,  a  stockbroker who  was previously registered with Investors Capital Corp. discloses two prior final  customer disputes.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In FINRA case #14-01865 a customer of Investors Capital Corp. alleged damages of  $1,361,799.80 in connection with a tax free exchange  utilizing a tenant in common property (TIC).   The case was settled for $500,000.

In FINRA case #13-02228 a customer of Investors Capital Corp. alleged damages of $2,600,000 in connection with direct investments – DDP and LP Interests.  The case was settled for $362,500.

John G. Chess was employed with Investors Capital from 7/2007 until 12/ 2010. He is currently employed by Investacorp, Inc.  He discloses a business affiliations with Chess Financial and Realty Invest Co., both of Columbus, OH.

INVESTORS CAPITAL CORP. SUBJECT OF 21 REGULATORY MATTERS–CEASES OPERATIONS FALL 2016

Investors Capital Corp. withdrew its registration with FINRA in fall 2016. Investors Capital has been named in 21 regulatory matters and a number of customer arbitrations. For more information on Investors Capital Corp, follow this link. 

If you have questions about an account in an account handled by John G. Chess contact us to discuss your legal options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Curtis L. Whipple- Kalos Capital Broker-Discloses Customer Disputes-Plymouth, MI

May 2017-Plymouth, MI

The FINRA records of  Curtis L. Whipple,  a  stockbroker who is currently  registered with Kalos Capital  disclose a prior regulatory event, a pending customer dispute, 3 prior customer disputes and a termination from employment.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In pending FINRA arbitration 17-0633, a customer of Whipple’s  prior employer, Investacorp. Inc.  alleges damages of $99,000 for unsuitable investments in limited partnerships and direct investments.

Curtis L. Whipple has been employed by Kalos Capital since 11/2012. He was employed by Investacorp from 10/2008-11/2012.

If you have questions about an account  handled by Curtis L. Whipple , contact us to discuss your options.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Investacorp Broker Discharged for Failure to Follow Firm Policy-Austin, Texas

Austin, Texas

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

According to FINRA records,  Theodore M. Jenkin , currently a broker with Kestra Investment Services discloses that he was discharged by Investacorp, Inc. in 9/2015. Investacorp, Inc. alleged that the termination was due to “failure to follow rules and firm policy regarding approved investments”.

Jenkin has been registered with Kestra Investment Services since 9/2015. He was registered with Investacorp from 8/2008-9/2015.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Former Newbridge Securities Broker in Pompano Florida Sanctioned by Securities Regulators

August  2015- Pompano Beach, Florida

Walter Paul Priebe , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he failed to notify his firm that he was serving in a fiduciary capacity as either a primary or successor trustee for several trusts associated with certain clients of his firm in violation of FINRA rules and firm procedures.

In addition , according to FINRA, Priebe falsely stated on compliance questionnaires that he had disclosed all current outside business activities (OBAs).

AWC No. 2014041781901

Priebe was fined $25,000 and suspended from association with any FINRA member for six months.

According to FINRA records, Priebe  was registered with Newbridge Securities  from 7/2014 until he was suspended by FINRA 9/2015.  Prior to that he was registered with Investacorp in Fort Lauderdale, FL, from 3/1989-7/2014.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Miami Based Investacorp Sanctioned For Excessive Sales Charges on REIT Sales

July 15, 2015- Miami, Florida

Investacorp Inc. , entered into a Letter of Acceptance Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that from April 2009 to April 2014 they failed to apply volume discounts to certain customers’ purchases of non-traded real estate investment trusts (REITs) and business development companies (BDCs).

As a result those affected customers paid excessive sales charges.

AWC No.2014042565701

Investacorp Inc. was censured , fined $50,000 and ordered to pay restitution of over $27,000.

Investacorp  has about 514 brokers in 331  branch offices and is headquartered in Miami, Florida.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Walter Priebe-Former Investacorp Broker – Sanctioned by Securities Regulator-Ft. Lauderdale

August19, 2015,

Walter Paul Priebe , entered into a Letter of Acceptance, Waiver and Consent (AWC)  with the Financial Industry Regulatory Authority (FINRA) to resolve allegations that he acted in a fiduciary capacity for various trusts without providing notice to his member firm and without obtaining approval.

According to the AWC, between 2001-2012, while registered with Investacorp in Ft. Lauderdale, FL, , Priebe engaged in outside business activities by serving as trustee for several trusts with clients of the firm. He failed to provide notice to Investacorp of his fiduciary roles and raise to obtain approval in violation of firm policies and in violation of NASD and FINRA rules.

AWC  No. 2014041781901

Priebe was suspended for 6 months and assessed a fine of $25,000. According to FINRA records, Priebe  was registered with Investacorp from 3/1989-7/2014 when he left to join Newbridge Securities Corporation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Stockbroker Richard A. McGuire Sanctioned by Regulators

November 3, 2014- The Financial Industry Regulatory Authority (FINRA) barred Richard A. McGuire from associating with any FINRA member firm in any capacity and ordered him to pay restitution of $95,000, plus interest for forging a former customer’s signature to loan agreements. Disciplinary proceeding No. 20110273503. 

According to FINRA records, McGuire was registered with the following firms:

  • Financial West Group                      7/28/2014-11/3/2014
  • Cabot Lodge Securities                   3/2013-8/2014
  • Investacorp, Inc.                                  6/2011-12/2012
  • Americas Investment Corp.         12/2009-4/2011

If you suffered losses in an account managed by McGuire, contact us to learn how you may be able to recover damages.

Rex Securities Law provides nationwide representation to investors seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

561 391 1900